Developer sells office built 40 years ago
A prominent Northern Territory office has been sold by the developer which built it 40 years ago.
Satepak House at 11 Palmerston Circuit, Palmerston, fetched $6.4 million following an off-market campaign.
With 1600 square metres in eight tenancies over two floors, it is 84 per cent occupied by the Territory government, Anglicare and Venture Housing.
Adjacent to Palmerston Shopping Centre, Goyder Square and Highway House, it also holds longer term development upside (continues below).
“Investor enquiry across the Northern Territory remains strong with demand spanning investment assets, development sites and value-add opportunities,” McGees Property’s Craig Inkster, who marketed Satepak House with Tessa Sealey, said.
Palmerston is 16 kilometres east of Darwin.
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